The President Muhammadu Buhari administration has announced its post-COVID plans for Nigeria’s economy.
On the Buhari administration’s efforts to cushion the effects of the pandemic on Nigerians, the Vice President stated that improving healthcare infrastructure remains a major objective of the administration. “In our case, our Tax-to-GDP has been extremely low, VAT in particular. Nigeria’s 7.5% VAT rate is probably the lowest when compared with some other African countries. For example, Kenya has about 16%, South Africa is about 15%, Algeria has 19%. Besides, at the moment, domestic revenue mobilization is an issue.
Revealing plans to tackle unemployment, the VP stated that one of the proposals by the Economic Sustainability Committee is to build 300,000 homes across the country within 12-months’ time frame, which he noted would provide more jobs for Nigerians. “This would be more crucial in the coming years and it is entirely possible. We preserve the value of our Naira if we are able to do more locally, and we have the capacity to do this. For example, we are now doing more in terms of local production of rice, and there is more value to the farmer, with increase in local production.”
Source: Financial Digest (financialdigest.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
COVID-19: Bayelsa govt state reasons for delay in COVID-19 results - Daily Post NigeriaThe Bayelsa State government has reacted to the complaints of delay in confirming COVID-19 results in the state. Some patients and medical practitioners
Source: DailyPostNGR - 🏆 11. / 59 Read more »
COVID-19: Korean partners Nigeria, offers palliatives to vulnerable households in Abuja - Daily Post NigeriaAs the COVID-19 pandemic continues to ravage the country, the Korean government has donated food items to vulnerable households in Piwoyi community in
Source: DailyPostNGR - 🏆 11. / 59 Read more »
Nigeria and post-COVID-19 job loss - The Nation NigeriaTwo years ago, almost half of Nigeria’s population was living ‘below the international poverty line ($2 per day)’, even as ‘unemployment peaked at 23.1%.’ I doubt if Nigerians have got any better since 2018.
Source: TheNationNews - 🏆 6. / 69 Read more »
Dexamethasone: Nigeria to begin trial of COVID-19 'life-saving' drug - Daily Post NigeriaMinister of Health, Dr. Osagie Ehanire, on Thursday said there will be clinical trials of a drug, Dexamethasone for COVID-19 patients. Recall that the
Source: DailyPostNGR - 🏆 11. / 59 Read more »
COVID-19: Six airlines meet requirements to resume flights in Nigeria - Daily Post NigeriaThe Nigerian Civil Aviation Authority (NCAA) has disclosed that six airlines have passed the airworthiness requirements, in readiness for the resumption
Source: DailyPostNGR - 🏆 11. / 59 Read more »
Buhari urges nations to share research knowledge to combat COVID-19 - HealthwiseTessy Igomu The President, Major-General Muhammadu Buhari (Retd.) says countries must learn to share knowledge from research and science, and support each other in the battle against a common pervasive enemy, COVID-19. Addressing world leaders on Wednesday, during a Virtual China-Africa Extraordinary Summit on Solidarity Against the COVID-19 pandemic, the president said the virus, which …
Source: MobilePunch - 🏆 8. / 63 Read more »